Equities research analysts forecast that T. Rowe Price Group Inc (NASDAQ:TROW) will announce $1.29 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for T. Rowe Price Group’s earnings, with the lowest sales estimate coming in at $1.28 billion and the highest estimate coming in at $1.31 billion. T. Rowe Price Group posted sales of $1.11 billion during the same quarter last year, which would indicate a positive year over year growth rate of 16.2%. The firm is expected to report its next earnings results on Tuesday, April 24th.
On average, analysts expect that T. Rowe Price Group will report full year sales of $1.29 billion for the current fiscal year, with estimates ranging from $5.03 billion to $5.41 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.49 billion per share, with estimates ranging from $5.10 billion to $5.70 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for T. Rowe Price Group.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share.
In other news, CFO Kenneth V. Moreland sold 14,419 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the transaction, the chief financial officer now directly owns 125,264 shares in the company, valued at $12,159,376.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Stromberg sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the transaction, the chief executive officer now owns 534,077 shares in the company, valued at $51,853,535.93. The disclosure for this sale can be found here. Insiders have sold 204,980 shares of company stock worth $20,776,729 over the last quarter. 3.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TROW. Prudential Financial Inc. lifted its holdings in T. Rowe Price Group by 94.1% in the third quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock valued at $64,295,000 after buying an additional 343,926 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of T. Rowe Price Group by 397.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 409,400 shares of the asset manager’s stock valued at $42,957,000 after acquiring an additional 327,033 shares during the period. Mackenzie Financial Corp bought a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $28,685,000. Koch Industries Inc. bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $304,000. Finally, W. E. Donoghue & Co. LLC bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $16,264,000. Institutional investors and hedge funds own 72.30% of the company’s stock.
T. Rowe Price Group (NASDAQ:TROW) opened at $106.97 on Wednesday. The company has a market cap of $25,680.00, a PE ratio of 17.92, a PEG ratio of 1.40 and a beta of 1.28. T. Rowe Price Group has a 52-week low of $66.70 and a 52-week high of $120.07.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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